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Atacama Copper Corporation Announces Closing of Second Tranche of Subscription Receipt Private Placement
Vancouver, British Columbia--(Newsfile Corp. - January 11, 2024) - Atacama Copper Corporation (TS...
About this update from Fuerte Metals Corporation
[{"type":"text","content":"Atacama Copper Corporation Announces Closing of Second Tranche of Subscription Receipt Private PlacementVancouver, British Columbia--(Newsfile Corp. - January 11, 2024) - Atacama Copper Corporation (TSXV: ACOP) (\"Atacama Copper\" or the \"Company\") is pleased to announce that further to its press releases dated October 26, 2023, December 15, 2023 and December 20, 2023, the Company has closed the second tranche of its previously announced brokered private placement (the \"Concurrent Financing\") for an additional 30,782,634 subscription receipts of the Company (\"Subscription Receipts\") at a price of $0.18 per Subscription Receipt for gross proceeds under the second tranche of approximately $5,500,000 and aggregate gross proceeds under the Concurrent Financing of approximately $12,400,000.The Company is also pleased to announce the closing of the non-brokered private placement (the \"Bridge Financing\") of 555,556 common shares of the Company (\"Common Shares\"), at a price of $0.18 per Common Share for aggregate gross process of $100,000. Together with the proceeds from the Bridge Financing, the total gross proceeds raised in connection with the Proposed Transaction (as defined below) is approximately $12,500,000. As a result of the closing of the second tranche of the Concurrent Financing, the Company has now satisfied the concurrent financing condition in connection with the Amalgamation (as defined below). Unless otherwise stated, all amounts referred to herein are in Canadian dollars.Summary of the Concurrent FinancingPursuant to the terms of an agency agreement between the Company, TCP1, Cormark Securities Inc. and Stifel Canada, as co-lead agents (the \"Agents\"), under the second tranche of the Concurrent Financing, the Company issued an aggregate of 30,782,634 Subscription Receipts at a price of $0.18 per Subscription Receipt. The second tranche of the Concurrent Financing was completed in connection with previously announced business combination and reverse takeover transaction of the Company, pursuant to which the Company will acquire all of the issued and outstanding shares of TCP1 in exchange for common shares of the Company (the \"Proposed Transaction\"). The Company, upon completion of the Proposed Transaction (referred to herein as the \"Resulting Issuer\"), is expected to continue trading on the TSX Venture Ex...